Estimating Car Value.. help! (Glass's guide needed)

MercilessKiller

Hi there. I recently just crashed my Peagout 206 (2000 W reg) and need help estimating its value:

Model: 206 5 door 1.1 Hatchback
Year: 2000
Reg: W
Milegae: 25000

Everything else was all standard. No electric windows. Driver airbag only. And that's that really. (I replaced the head unit and speakers manually for around a £300 set as well).

Any help would be great. Thank you

nadnad

don't know if this helps - I asked my husband who sells cars he said at trade (its pre-accident) value would be about £1200 (we live in N.I. so you may get slightly more for it over there)

MercilessKiller

ouch.. 1200? a LOT lower then originally expected.

Thank you for your help. At least I am prepared for the worst now!

Bossyboots

Parkers give a much higher figure, starting at £2230 for a private sale in poor condition.

The AA site which is powered by Glass's starts at £2,800 so it would seem your car is worth less in Northern Ireland than it is here.

MercilessKiller

Trust the irish harhar

Just joking. Thank you Bossyboots. I found parkers and have seen the figures now.

I just really hope it doesn't come to that.

Bossyboots

These are the figures from WhatCar (managed to get these to cut and paste)
Prices
Dealer £4,484, Private £3,938 Part Ex £3,415 Trade £3,265 Cost New £8,790


Edit: I am thinking these boards are cursed as there seems to be a rather large number of members involved in car accidents recently myself included.

MercilessKiller

Those figures look rather attractive. Will be hoping they're realistic.

I also hope I could buy a similar car with the value (2nd hand). That might be a bit hopeful for though.

Tony_H_3

The best thing you can do is actually search for a car identical to yours in your area, you could use "Yahoo Cars" to do this Click Here This will give you the best indication about what you will receive from the insurance company. Expect them to pay less.

nadnad

Parkers is not a good guide - unrealistic - I did a bit of research - bear in mind that was 1200 trade - you may have made closer to £2k private sale - however if you are claiming this loss off your insurance company - the engineer - if the car is decalred a total loss will offer you a lower amount than the actual value and then you may get the car for sale as salvage ( i work in insurance) - if however the car is fixable they will either pay to get it fixed or offer you a lower "cash in lieu" offer.

Altarf

nadnad wrote:

Parkers is not a good guide - unrealistic - I did a bit of research - bear in mind that was 1200 trade - you may have made closer to £2k private sale - however if you are claiming this loss off your insurance company - the engineer - if the car is decalred a total loss will offer you a lower amount than the actual value and then you may get the car for sale as salvage ( i work in insurance) - if however the car is fixable they will either pay to get it fixed or offer you a lower "cash in lieu" offer.

As you work in insurance you will know that the trade or private sale price of the car is irrelevant.

The amount that the insurance company must pay out is the amount that will put the insured back in the position they were before the accident. Prior to the accident they had not just sold their car (either trade or privately) and had a pocket full of cash, they had a car. That is the position the insurance company must restore them to, even if it means paying out the full dealer price of the car.

With the less reputable insurance companies it may take some external pressure to get them to deliver on their obligations.

nadnad

well I don't know how other insurance companies work but I work for one of the largest in the world and I know for a fact that our engineers use a combination of glasses guide and the local autotrader to come to a price that is agreeable to the person who has lost their car. This is a fair way to do it as it allows them to buy a car of a similar age and type to the one they have lost.